Rep. Ryan outlines GOP approach to inequality

Raising the top rate of 35 percent would have a negative effect on the poor, on the other hand, the paper argues.

“The incentive effects of large marginal tax rate increases and government transfers indicates that the result of such an agenda would be much slower economic growth and lower incomes for all,” it states.

It also argues for means-testing Medicare and Social Security to reduce government payments to upper-income individuals.